Early production

The song was based on an earlier song written early on in the
production stage called "The Warthog Rhapsody". Although the two
songs shared the same message and position in the film, when Elton
and Tim began to work on the music the song was completely
rewritten and it eventually evolved into "Hakuna Matata".

Meaning

Hakuna matata is a Swahili phrase that is frequently translated as "no
worries". In a bonus features of The Lion King Special
Edition DVD, the film's production team claims that it picked up
the term from a tour guide while on safari in
Tanzania. It was then developed into an
ideology that, along with the seemingly antithetical value of duty
to the monarchy, is central to the moral content of the film.

In popular culture

In one of Disney's many self references, the "Hakuna Matata"
song can be heard briefly in the 1995 Pixar
film Toy Story, in which it was
played on Andy's car while Molly sees Woody and Buzz
Lightyear through one of the sideview mirrors.